Swedbank: average wage growth to be 6.5% in Estonia in 2012

Average wage growth to reach 6.5% in Estonia in 2012, taking into consideration that the wage growth in the services sector will accelerate during the second half of the year, Swedbank said in a statement.

Real wage growth is expected to
reach 2.3% on average, but slower growth is increasingly more likely due to
growing risks regarding higher inflation, writes LETA.

The average monthly gross wage
increased by 5% in annual comparison in the second quarter, reaching 900 euros.

Real wage growth, at the same time,
slowed from 2.4% in the first quarter to 1.1%, affected by slowing nominal wage
growth as well as delay in the inflation deceleration. The largest wage
increases were observed in domestic demand related sectors and/or sectors which
are affected by qualified labor shortage problems.

Circular economy for modern growth: EU and the Baltics EU’s circular economy plans are aimed at efficient use of natural resources and raw materials, waste disposal, while fostering energy savings and reducing CO2. Adequate actions in the Baltic States would contribute to “closing the loop” of product lifecycles through greater recycling and re-use, while bringing benefits to environment, business and economic growth.